Czech National Bank Boosts Stake in PACCAR Inc. $PCAR

Czech National Bank raised its holdings in PACCAR Inc. (NASDAQ:PCAR) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,801 shares of the company’s stock after acquiring an additional 6,711 shares during the period. Czech National Bank’s holdings in PACCAR were worth $17,994,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its holdings in PACCAR by 9.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 887 shares of the company’s stock worth $97,000 after buying an additional 80 shares during the period. Gulf International Bank UK Ltd grew its holdings in PACCAR by 0.3% during the 4th quarter. Gulf International Bank UK Ltd now owns 26,202 shares of the company’s stock valued at $2,869,000 after buying an additional 81 shares in the last quarter. CYBER HORNET ETFs LLC grew its holdings in PACCAR by 6.2% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,486 shares of the company’s stock valued at $163,000 after buying an additional 87 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in PACCAR by 3.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,898 shares of the company’s stock valued at $317,000 after buying an additional 87 shares in the last quarter. Finally, Lakeside Advisors INC. increased its position in shares of PACCAR by 0.3% during the fourth quarter. Lakeside Advisors INC. now owns 34,053 shares of the company’s stock valued at $3,729,000 after buying an additional 92 shares during the period. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

NASDAQ:PCAR opened at $133.11 on Friday. The business has a 50 day moving average of $123.62 and a 200 day moving average of $121.33. The company has a market capitalization of $70.06 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.05 and a beta of 0.97. PACCAR Inc. has a 1-year low of $92.25 and a 1-year high of $139.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.07. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business posted $1.37 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc. will post 5.85 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 12th. PACCAR’s payout ratio is 29.41%.

Insider Buying and Selling

In other news, VP Paulo Henrique Bolgar sold 2,897 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the transaction, the vice president owned 3,831 shares in the company, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 50,975 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the completion of the sale, the chief executive officer directly owned 268,625 shares in the company, valued at approximately $35,745,928.75. This trade represents a 15.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 56,842 shares of company stock worth $7,565,677. 1.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 target price on shares of PACCAR in a research note on Wednesday, July 29th. Citigroup upped their price target on shares of PACCAR from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $131.70.

PACCAR Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.